Vegas Chips Inc

Pacific Snax Corp., maker of Kettle Classic gourmet potato chips, said Monday it has bought 70% of a Las Vegas potato chip company and is considering moving some of its manufacturing to the newly purchased site in Nevada. Pacific Snax acquired 1.4 million shares of Vegas Chips Inc. in an exchange of stock. Vegas Chips shareholders will receive one share of Pacific Snax common stock for each share of Vegas Chips' restricted stock they own. The value of the deal was not disclosed.

Pacific Snax Corp., maker of Kettle Classic gourmet potato chips, said Monday it has bought 70% of a Las Vegas potato chip company and is considering moving some of its manufacturing to the newly purchased site in Nevada. Pacific Snax acquired 1.4 million shares of Vegas Chips Inc. in an exchange of stock. Vegas Chips shareholders will receive one share of Pacific Snax common stock for each share of Vegas Chips' restricted stock they own. The value of the deal was not disclosed.

Pacific Snax Corp. has sold its 57% interest in Vegas Chips Inc. to Rovne Investments for $1.2 million. As part of the deal, the snack food company agreed to purchase back the Vegas Chips brand name and machinery for $1.1 million. A Pacific spokesman said Monday that the transaction will allow the company to reduce costs. Vegas Chips will focus on its recently acquired independent film company.